Police have opened a criminal inquiry into Lord Mandelson’s dealings with Jeffrey Epstein, examining claims sensitive information was shared while he held government roles. Mandelson has resigned from the Lords. Starmer called the conduct disgraceful and urged full co‑operation.
Washington will reduce tariffs on Indian imports after Modi agreed to curb purchases of oil from a sanctioned state. The move seeks to deepen trade ties, pivot India’s energy sourcing towards Western partners, and restart wider market‑access talks.
Emails reveal Peter Mandelson advised Jeffrey Epstein that JPMorgan should pressure the UK over the 2009 bankers’ bonus tax, urging contact with the chancellor. He says he sought to protect jobs and investment. Labour is under pressure to address the revelations.
Donald Trump nominated Kevin Warsh to lead the Fed, signalling a firmer stance on inflation. Markets backed the dollar and trimmed expectations of rapid rate cuts. US yields rose while gold fell as investors priced in steadier policy and renewed questions over central bank independence.
US immigration agencies under the Trump administration have awarded about $22bn in contracts since July, with Palantir and Deloitte among winners. ICE’s spending has doubled, and donor-linked Fisher Sand & Gravel has gained about $6bn. Deals cover tech, detention and logistics services.
Mining groups added $476bn in market value as metal prices rose on geopolitical jitters and a weaker dollar. Gold and silver climbed, copper hit multi‑year highs, and investors rotated into commodities. Rio Tinto and Glencore posted stronger results, buoyed by higher prices.
Washington signalled that security assurances may hinge on territorial concessions by an eastern European partner, raising concern it is being pressed into a deal. Critics doubt US commitment; officials say they seek talks. The UK and allies emphasise sovereignty and oppose rewarding coercion.
The dollar fell to a four-month low as sliding US yields and rate-cut bets boosted haven demand. Gold hit a record above $5,100. The yen strengthened amid speculation of possible joint US–Japan action to steady markets, with Tokyo pledging an “appropriate” response to disorderly moves.
After a fatal incident involving federal agents in Minneapolis, the White House’s immigration drive faces heavy criticism. Several Republicans have broken ranks, while Democrats warn of a shutdown to force changes. Protests have grown nationwide as pressure builds for accountability.
Gold surged to multi‑year highs as investors fled to haven assets, sending the dollar lower. Uncertainty stoked by Trump’s Greenland manoeuvres and erratic policy signals shifted market mindset, giving the metal its best week since 2008.